The Banana Wars (Unit 4 reading)

A long standing trade dispute between Europe and certain former colonies - some former colonies have long enjoyed special access to European markets, relying heavily on banana exports to the region. But how long should these privileges continue? This article from the Guardian discusses a controversial move to remove these trade barriers.

If this move to remove the barriers takes effect,

1) What are the potential benefits for European consumers?

2) What are some of the disadvantages for the former colonies?

Mean Supermarkets? (Unit 3 reading material)

An article from the BBC discussing the monopsonistic market that food suppliers face since the UK supermarket scene is dominated by 4 key players. What is a monopsony, and what are some of its advantages and disadvantages? Can you name another example of a monopsony?

Reading Material - Unit 4

Why can't countries use aid money responsibly? We are often taught to think that the reason is corrupt governments, who siphon away this money into their Swiss bank accounts.

While corruption is a serious problem in many countries, India's case is interesting - the country is actually sitting on a large amount of aid money that has yet to be spent! India Today has published a very interesting article that highlights some of the problems the country faces in effectively allocating the international aid it receives. This is a result of the country's excessive red tape (too many rules and regulations, and slow implementation), which reminds us that corruption is not the only obstacle to proper utilisation of donor's funds.

Reading Material - Unit 2 & 4

This New York Times article highlights the importance of understanding the method used to measure unemployment. While the official US jobless rate was 10.2% in October, an alternative measure that has a broader definition was recorded at 17.5%.

Unit 2 students (previously Unit 3), can you answer the following?

1) Describe the various ways that unemployment is measured in the UK? (e.g. JSA/claimant count, Labour Force survey)

2) Outline two key reasons behind the rising unemployment rate in the US?

Reading Material - Unit 3

Two articles by the Guardian and the Economist on the hostile takeover offer from Kraft for Cadbury.

Some useful questions to ask yourself if you are preparing for Unit 3 (formerly Unit 4):

1) Evaluate two sources of cost savings that the merger of Kraft and Cadbury would create.

2) To what extent is the market for chocolate and confectionery contestable?

LRT Economics

Are we any better?

For the first time in a long while, I rode the train today and came back irate about how inconsiderate people around me seemed to be. People were as usual, crowding around train doors, pushing to get in. It is obvious that passengers outside the train cannot enter until those inside have exited, and hence, blocking their way only slows things down. Why don’t people bring their manners to train stations?

I looked it up when I came home this evening, and as expected, Tim Harford has suggested an economic answer to this question.

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